Gold has been in a downtrend since last June, following the red descending channel.
Within the channel gold had been following the green trend line since the beginning of the year.
Currently it has broken this trend line and has successfully retested on it confirming the trend line breakout[/b].
Therefore I expect Gold to sell until it reaches the bottom red trend line, completing the channel.
This movement of the price is shown by the orange path drawn.
Within the channel gold had been following the green trend line since the beginning of the year.
Currently it has broken this trend line and has successfully retested on it confirming the trend line breakout[/b].
Therefore I expect Gold to sell until it reaches the bottom red trend line, completing the channel.
This movement of the price is shown by the orange path drawn.